LONDON (Standard&Poor's) Sept. 30, 2005--Standard&Poor's Ratings Services said today that it affirmed its 'AAA/A-1+' sovereign credit ratings on the Kingdom of Denmark. The outlook is stable. The full analysis on Denmark was published on RatingsDirect, Standard&Poor's Web-based credit analysis system, on Sept. 30, 2005. "The ratings on Denmark reflect policymakers' longstanding commitment to fiscal discipline, supporting the sovereign's substantial fiscal flexibility," said Standard&Poor's credit analyst Remy Salters. The general government is expected to continue posting significant fiscal surpluses, equivalent to 1%-2% of GDP in the medium to long term. Having peaked at 81% of GDP in 1993, the general-government debt burden is expected to fall to an estimated 40% of GDP by
